Consumer ABS

Dollar Thrifty Automotive Group (DTAG) is in the market with a transaction called Rental Car Finance Corp., Asset Backed Notes, Series 2011-1. Rental Car Finance Corp. (RCFC), a wholly owned subsidiary of Dollar Thrifty, is the issuer.

The American Securitization Forum (ASF) released a statement today applauding the House Financial Services Committee’s approval of legislation aimed at stabilizing the ABS market.

Elizabeth Warren has spent much of the past year arguing the Consumer Financial Protection Bureau (CFPB) is not as scary as banks think. But as she steps aside, will that really be the case?

Legislation is moving forward that would more definitively exempt rating agencies from a liability that shut down securitized markets at one point last year, according to an industry trade group.

Greenwich Associates released its annual list of top leaders in the U.S. institutional fixed-income trading market today, revealing a deadlock for first between Barclays Capital, Deutsche Bank, and JPMorgan with each firm holding an 11.5% overall market share.

Friday's European bank stress tests revealed that all securitization positions in European banking and trading books were stressed, according to market reports.

MassMutual Asset Finance (MMAF) is marketing an equipment lease and loan ABS deal worth approximately $755.24 million. The 144A deal is sole managed by JPMorgan Securities.

By waiting so long to nominate Richard Cordray to be the first director of the Consumer Financial Protection Bureau (CFPB), President Obama has boxed himself in and Cordary will have to be confirmed by the Senate for the new bureau to exercise its full powers.

A Barclays Capital report examined the increasing possibility that FFELP student loan ABS will experience rating volatility in the upcoming months. As a result, the bank shifted its position to neutral from overweight on FFELP-backed SLABS.

Ford Motor Credit Co. is marketing an auto loan ABS worth $1.07 billion. Ford Credit is a subsidiary of Ford Motor Co.